Saturday, 2 July 2016

Maharashtra Government get’s Central Government’s approval to set up Housing Regulator – other States may fall in line.


Maharashtra Government get’s Central Government’s approval to set up Housing Regulator – other States may fall in line.

                                                     

The Central Government has given its approval to Maharashtra State’s plan of setting up the Housing Regulatory Authority. The Maharashtra State Government had passed the Act two years ago, but had delayed forming of the regulator as the Central Government had asked the State Government to hold off for some time as the Central Government itself had also moved a similar Law. 

The Housing Regulatory Authority will be acting as a quasi-judicial body and resolve the disputes related to the housing sector. The State Government having obtained the Central Government’s approval, has started the process of forming rules and regulations after completion of which, the Housing Regulatory Authority will come into existence. 

· The Housing Regulatory Authority will be a quasi-judicial body. 

· It will be compulsory to register housing projects with the authority with all details. 

· The Authority can cancel a project if irregularities are found. 

· Buyers of a stalled project can form a legal entity and assume control of the construction process. 

· The Authority will provide information about the promoters on its website. It will contain the list of approved projects, cancelled ones and names of the deregistered promoters. 

· Flat purchasers can lodge complaints with the authority about irregularity and the authority can conduct hearings. 

The Regulatory Authority will have a Chairman who will have powers to punish or fine the culprits. The Regulatory Authority will also hold hearings like Courts. The Housing Department of the State Government is working out the modalities about who can play the role of the Chairman, his qualifications, the staff required, financial provisions etc.

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